While Jinan ushered in the new banker, Volvo Trucks has already decided to withdraw funds from Huawo. According to the newspaper's exclusive news, Volvo and China National Heavy Duty Truck (Hong Kong) Co., Ltd. (referred to as China National Heavy Duty Steam Turbine) have reached an agreement after Volvo will complete its joint venture with Wal-Mart. Volvo will withdraw from the 30-year Wal-Mart joint venture project.
On July 16, the German company, which replaced Volvo Trucks in Shandong, is the parent company of Steyr Trucks. Mann's joint venture with Sinotruk took a flexible approach, similar to the joint venture model between Mercedes-Benz Trucks and Foton, and without prior introduction of foreign brands, first conducted technical cooperation and jointly explored emerging markets.
Facts have proved that for the current status of China's commercial vehicle market, foreign high-end truck products are not suitable for the current stage of the Chinese market. Cooperation between Chinese and foreign companies will inevitably seek new models. Multinational giants are taking a devious strategy to enter the Chinese market. After Sinotruk’s joint venture, the Volvo, Dongfeng, Shaanxi Heavy Duty Truck and Weichai Power of the two companies may all be affected, and the competitive landscape of commercial vehicles may be turbulent again.
Exclusive Mantech Technology
According to the agreement, Man will license China's advanced truck and engine technology to China National Heavy Duty Truck and related subsidiaries in China under an exclusive license, and cooperate with Sinotruk to produce and sell "technology-boosting" trucks based on this technology.
Ni Guixiang, Vice Minister of China National Heavy Duty Truck Enterprise Cultural Construction, said that the cooperation with Man is all-round, including capital and technology. Under the condition that China National Heavy Duty Truck Group Co., Ltd. ("Shenqi Group") maintains a 51% controlling interest in CNHTC, Mann will acquire about 99 billion new shares of convertible bonds and about 99 million from CNHTC. The company has issued shares and obtained a 25% stake in China National Heavy Duty Truck (Hong Kong) with a total investment of HK$6.048 billion.
Although the investment of Mann China is significant for China National Heavy Duty Truck, the above agreement will also be approved by the national competent authorities including the China Securities Regulatory Commission, the Ministry of Commerce, and the National Development and Reform Commission. It will also be approved by the China National Heavy Duty Autonomous Shareholders' Meeting and is expected to be completed by the end of August. All procedures will be completed.
It is understood that the cooperation is still based on China National Heavy Duty Truck, the first phase of cooperation between the two parties is 7 years, in the future can continue to cooperate. It is not yet possible to import MAN brand trucks for sale because foreign high-end heavy trucks are not suitable for the Chinese market. In the future, the two sides will re-create a new brand for sales in China and 27 European countries.
Chairman of China National Heavy Duty Truck Board Ma Chunji said that Sinotruk has used the advanced technology of engine and vehicle research and development, assimilation and re-innovation, and this agreement has made use of the production technology of Euro III, Euro IV and Euro V engines. Incorporating the scope of cooperation, the problem of the research and development of the next three generations of environmentally friendly truck production technology of China National Heavy Duty Truck was solved once.
Industry analysts said that currently China's heavy-duty trucks to promote the EGR engine to meet the national III emission requirements is only a transitional technology, in the face of future pressures to upgrade emissions regulations, China's heavy truck urgently needs new technology to be introduced.
Hanman Samuelson, chief executive officer of Man Group, said that this important cooperation is the result of a good relationship with Sinotruk for many years. The investment of MAN Group's investment in Sinotruk is a joint development aimed specifically at developing countries. There is no unanimously accepted definition of financial markets, but people often base themselves on the emerging markets index compiled by the International Finance Corporation (IFC) and Morgan Stanley. The new truck series laid the foundation.
China National Heavy Duty Truck Group is currently the largest heavy truck manufacturer in China. In the first half of this year, it sold 680,98 heavy vehicles with a market share of 26.26%.
At the same time
The joint venture between MAN and China National Heavy Duty Truck drastically stirred up the pattern of commercial vehicles in China. The first affected will be Shaanxi Heavy Duty Truck. Shaanxi Automobile Group was the first domestic company to discuss the issue of joint ventures with Man. Its 49% shareholding company refers to more than 50 percent of companies with voting rights that are controlled by the parent company. The main engine of the Shaanxi Heavy Duty Truck F2000 is derived from the Man Corporation's F2000 model technology.
Liu Keqiang, Assistant to General Manager of Shaanxi Heavy Duty Truck Sales Co., told this newspaper that the exclusive technology agreement signed by Sinotruk and Mann refers to the TGA technology, while Shaanxi Heavy Duty Truck introduced the F2000 model technology, which is not the same as for Shaanxi. Whether Sinotruck will introduce Manco's follow-up technology is still unknown.
Mann had previously held joint ventures with Shaanxi Automobile Group, but in the end the two parties could not come together due to differences in brand use. This time, Mann has changed his previous "tough" attitude. He did not require Sinotruk to import the "Man" brand, but instead authorized China National Heavy Duty Truck to use integration and engine technology. This will surely introduce the technology of Shaanxi Sinotruck. proudce conflict.
China National Heavy Duty Truck Group, Shaanxi Heavy Duty Truck and Weichai Power (000338, share bar) were once a company. After the separation of China National Heavy Duty Truck and the separation of Weichai Power Assets, and after a 51% stake in Weichai Power Holding Shaanxi Heavy Duty Truck, In China's commercial vehicle market, two turbulent fronts have formed. China Heavy Duty Truck and Weichai Power (including Shaanxi Heavy Duty Truck) has always been in a situation where it is incompatible.
This time, China National Heavy Duty Truck Co., Ltd. spurred a full-fledged joint venture with Man. It seems that the camp of Weichai Power has formed a drastic salary and cut off the most important technology source of Shaanxi Sinotruck.
Liu Keqiang denied the above statement. In his opinion, Shaanxi Heavy Duty Truck is currently fully equipped for the planning of future models. As for future foreign joint ventures and cooperation, it may depend on the unified deployment of Weichai Power. Shaanxi Heavy Duty Truck currently has very good resources in terms of engines. Full, there is support from Xi'an Cummins and Weichai Power.
It is understood that Weichai Power had previously conducted joint venture negotiations with Man Corporation and hoped to cooperate with Man Corporation from the engine to the vehicle, but ultimately failed to make it.
China's heavy-duty truck technology was derived from Steyr, which was to resolve the "negligence" of the auto industry. After the acquisition of Steyr by German Manger, it has undertaken the technology import cooperation project between Steyr and China National Heavy Duty Truck. In 2005, the above project was completed.
Now after the Steyr models are replaced, Man has also formed a marriage with China National Heavy Duty Truck Corporation. This has great impact on the development of commercial vehicles in China. It is worth noting that China National Heavy Duty Truck Co., Ltd. not only drastically reduced wages on Weichai Power, but also had a huge impact on the traditional commercial vehicle giants, Liberation and Dongfeng, because of the heavy lifting of trucks, the liberation of medium trucks began. Dongfeng’s market share French Tranch means “part of†and is used extensively to refer to a portion, an allocation, and an instalment for instalments. Constantly eroded by China National Heavy Duty Truck, Shaanxi Heavy Duty Truck and other companies.
At present, Liberation and Dongfeng Trucks have no substantial joint venture, and their self-developed heavy-duty trucks are not performing satisfactorily. Therefore, the introduction of Manhatten's heavy truck technology once again poses a huge threat to other companies if they are familiar with it. Steyr Technology's Chinese market once again staged the "Stelor Legend", so China National Heavy Duty Truck or will really assume the role of industry integrator specified in the "rejuvenation plan."
Volvo Dongfeng joint venture to restart?
The joint venture between MAN and China National Heavy Duty Truck also forced Volvo to deal with the Wal-Mart joint venture project in Shandong.
Informed sources disclosed that China National Heavy Duty Truck Group and Volvo have reached an agreement on the handling of the Huawo project in the near future. Based on the consultations between the two sides, they agreed that Volvo will withdraw from the joint venture company. After the joint venture with Man, Volvo’s situation is very poor. .
Waldorf Trucks, a joint venture between Volvo Trucks and China National Heavy Duty Truck Group, is China's first approved heavy-duty vehicle joint venture project. It was established in 2003 and has a total investment of RMB 1.6 billion. The investment ratio is Volvo and Sinotruk. Each 50%. The two parties have experienced negotiations for up to 9 years. This marriage has been once considered a model for joint ventures.
However, due to the difficulty of accepting Volvo trucks with prices exceeding 600,000 yuan in the domestic market, the project has been stagnant before. The two sides have tried several times to restart Huawo's operations, but they did not eventually make it.
After Shandong encountered resistance, Volvo shifted the joint venture object to Dongfeng Commercial Vehicle. However, due to the sudden emergence of China National Heavy Duty Truck Group, Volvo did not want to abandon the Huawo Project. He hoped that Dongfeng and China National Heavy Duty Trucks could hand over the two companies and eventually the Dongfeng Project did not end. Negotiations stalled.
After Volvo withdrew from the Huawo project, it has brought hope for the restart of the Dongfeng project. Because Dongfeng has previously stated that Volvo and Dongfeng must jointly withdraw from the Huawo project in Shandong, it is not possible to use Dongfeng Nissan Chai's existing joint venture quota.
Analysts pointed out that China's commercial vehicle market is different from the passenger vehicle market. More than 90% of commercial vehicles are self-owned brands. Foreign brands are difficult to form because of their high selling prices. In this situation, Volvo should change its strategy, instead of continuing to implement the brand's technology into China. It can introduce technology in advance and then penetrate into the brand.
But this time, Dongfeng may have the initiative.
View related topics: Joint venture hot car
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